The announcement follows community concerns about the Pickwick Gardens complex being bought by a developer and converted into apartments. Neighbors had signed petitions to stop a potential development, out of concern about losing the recreational icon and the increase in traffic.
The Stavert family has owned and operated Pickwick Gardens since 1961.
The Kings and American Sports Entertainment Company are acquiring the ice facility in a long-term partnership with the family.
"The team at Pickwick Gardens is looking forward to our relationship with the Kings and ASEC. They are venerable organizations who we trust to steward our ice facility and, more importantly, deliver world-class service to our customers," Pickwick Gardens CEO Ron Stavert said.
In addition to the ice facility, Pickwick Gardens hosts bowling lanes, a business conference center and facilities for weddings and other special events.
Ron Stavert said having the Kings acquire the ice facility will allow the family to focus on the other aspects of the complex.
"We will now be able to focus all of our energy and resources on continuing to invest in our other businesses to ensure that Pickwick Gardens continues to be a premier recreation destination for future generations," Stavert said.
The ice facility will be renamed LA Kings Ice at Pickwick Gardens.
The new owners plan to spend about $1 million renovating the ice rink. The changes will include improvements to the skating rink to NHL standards, renovations to the heating and cooling systems and the addition of Kings logos to the interior and exterior.
The facility will shut down temporarily in June when the renovations begin.
Founded in 2006, ASEC operates 21 ice-skating and sports facilities around the country, including the Toyota Sports Center in El Segundo, where the Kings practice.